China Wind Systems Receives Follow-up Orders to Supply Solar Chambers Subassemblies
WUXI, Jiangsu, China, April 21, 2011 /PRNewswire-Asia-FirstCall/ -- China Wind Systems, Inc. (Nasdaq: CWS), ("China Wind Systems" or the "Company"), a leading supplier of forged products and industrial equipment to the wind power and other industries in China, today announced that the Company received a total of two purchase orders from its customer to deliver 40 solar chamber subassemblies The Company delivered sample product units over the past few months, which have been inspected and approved by the customer. As a result, the Company received a follow-up order to supply 10 units of solar chamber subassemblies for $0.3 million for delivery in April 2011 and another order to supply 30 units for $0.8 million by June 2011.
"We will utilize our self-manufactured forged rolled rings to manufacture and deliver solar chamber subassemblies under the contract. This marks an important milestone for China Wind as it demonstrates the high-quality of our forged rolled rings which are in accordance with the international standards for manufacturing and quality control. Our new customer is assisting us in expanding our capacity by supplying some components for six of the 30 units under the second purchase order," commented Mr. Jianhua Wu, Chairman and Chief Executive Officer of China Wind Systems. "We are committed to the highest quality standards of production which enable us to capitalize on the attractive growth opportunities in the clean energy sector. We believe this supply contract moves us closer to our goal of becoming a leading supplier to the clean energy industry and further diversifying our customer base. We believe clean energy solutions will drive our future revenue growth and profitability."
About China Wind Systems, Inc.
China Wind Systems, Inc. is a rapidly growing supplier of precision forged components primarily to the wind industry in China - the world's leading wind-power market. The Company also supplies forged and other components and fabricated products to other industries. For more information on the Company, visit http://www.chinawindsystems.com. Information on the Company's Web site or any other Web site does not constitute a portion of this release.
Safe Harbor Statement
This release contains, or may contain, certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995 relating to the business of the Company and its subsidiary and affiliated companies. All statements, other than statements of historical fact included herein are "forward-looking statements," including any other statements of non-historical information.
These forward looking statements are often identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Investors should not place undue reliance on these forward-looking statements, which speak only as of the date of this press release. The Company's actual results could differ materially from those anticipated in these forward-looking statements as a result of a variety of factors, including those discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov), including the information contained under "Risk Factors" and Management's Discussion and Analysis of Financial Condition and Results of Operations" in the Company's Form 10-K for the year ended December 31, 2010. All forward-looking statements attributable to the Company or to persons acting on its behalf are expressly qualified in their entirety by these factors other than as required under the securities laws. The Company does not assume a duty to update these forward-looking statements.
For more information, please contact: |
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Company Contact: |
Investor Relations Contact: |
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Mr. Fernando Liu |
Mr. Athan Dounis |
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Chief Financial Officer |
CCG Investor Relations |
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China Wind Systems, Inc. |
Tel: +1-646-213-1916 |
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Tel: + 86-13761347367 |
Email: [email protected] |
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Email: [email protected] |
Web: www.ccgirasia.com |
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SOURCE China Wind Systems, Inc.
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